Archives for VAT

Ecommerce Clients Update

Posted on by in Accountancy | Leave a comment


In the last 8 weeks we have:

  • Assisted a client whose selling account was blocked to obtain a UK VAT registration number – in under 48 hours!
  • Continued development of a systematic method of extracting and summarising Amazon’s confusing VAT accounting reports.  No need for expensive Xero, A2X, Link my Books subscriptions for our clients!
  • Appointed by three large clients whose (separate) accountants had each totally misunderstood VAT liability calculations and Amazon accounting.
  • Helped a client obtain £150k of VAT refunds following a comprehensive and accurate submission to HMRC which resulted in just a one-hour VAT control visit.  We were also able to help the HMRC’s officers understand some aspects of Amazon accounting!



Specialist Accountants for Ecommerce Businesses

Posted on by in Accountancy, Business Advice, Corporation Tax, Personal Tax, VAT | Leave a comment

Over recent years the number of ‘online traders’ or ‘Ecommerce’ businesses has grown considerably and in the next ten years we believe the market will at least double!

Hanley & Co began advised several substantial eBay traders over ten years ago and due to the significant growth of Amazon FBA (and many other markets) we have been very fortunate to have attracted a significant number of these businesses as clients from across the UK (and overseas).

We consider ourselves to be ‘the specialists’ in this area. We are regularly contacted by businesses whose accountants just don’t handle (or understand) this sector. 

Most of these businesses need (and expect) an online bookkeeping system that caters for the complex reports flowing from Amazon, PayPal, Stripe etc.  They also need confidence that their VAT and taxes are being properly handled.

If you know of an Ecommerce business proprietor that is struggling for advice from their advisors and accountants or need certainty about their bookkeeping, VAT registration requirements (including EU / international), VAT calculations and schemes (and of course MTD) please ask them to contact us for a chat!

New VAT rules for the Construction Sector

Posted on by in Accountancy, VAT | Leave a comment

Under new rules due to come in on 1 October 2019 builders, sub-contractors and other trades associated with the construction industry will have start using a new method of accounting for VAT.

Under the new rules, supplies of standard or reduced-rated building services between VAT-registered businesses in the supply chain will not be invoiced in the normal way. Under the reverse charge, a main contractor would account for the VAT on the services of any sub-contractor and the supplier does not invoice for VAT. The customer (main contractor) would then account for VAT on the net value of the supplier’s invoice and at the same time deduct that VAT from the payment to the sub-contractor.

This is intended to ensure that VAT is correctly accounted for on supplies by sub-contractors.

The new reverse charge will apply to a wide range of services in the building trade, primarily those activities covered by the construction industry (CIS) payment rules. Note that normal VAT invoices will continue to be issued to domestic customers.

Please contact us if you are likely to be affected by these changes and we can work with you to ensure you are ready for the new system.